Lawyers and industry executives expect EU regulators to enforce MiCA differently as unauthorized crypto companies are required to wind down operations.
Update (July 4, 6:30 AM UTC): This article has been updated to correct information regarding MiCA compliance costs.
The European Union’s cryptocurrency industry has entered a new enforcement phase as the transition period under the Markets in Crypto-Assets (MiCA) regulation came to an end.
The end of the transition means crypto companies without MiCA authorization can no longer legally serve EU clients and are expected to wind down operations or face multimillion-euro fines and other enforcement action.
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